SunTrust Banks (STI) is Reiterated by Wedbush to Neutral, Raises Price Target to $ 53

SunTrust Banks (STI) was Reiterated by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 53 from a previous price target of $51 . Wedbush advised their investors in a research report released on Nov 30, 2016.

Many Wall Street Analysts have commented on SunTrust Banks. SunTrust Banks was Downgraded by Wells Fargo to ” Market Perform” on Nov 18, 2016. SunTrust Banks was Downgraded by Standpoint Research to ” Hold” on Nov 15, 2016. SunTrust Banks was Downgraded by Morgan Stanley to ” Underweight” on Nov 14, 2016.

On the company’s financial health, SunTrust Banks reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 21, 2016. Analyst had a consensus of $0.89. The company had revenue of $2231.00 million for the quarter, compared to analysts expectations of $2178.27 million. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.

SunTrust Banks closed down -0.42 points or -0.81% at $51.14 with 50,59,670 shares getting traded on Tuesday. Post opening the session at $51.73, the shares hit an intraday low of $51.13 and an intraday high of $51.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Nov 23, 2016, Anil T Cheriyan (Corp Ex Vice Pres & CIO) sold 8,000 shares at $52.15 per share price. According to the SEC, on Nov 18, 2016, Mark A Chancy (Corp. EVP-Wholesale Bank Exec) sold 33,396 shares at $0.00 per share price. On Nov 17, 2016, Thomas E Panther (SVP, Controller, CAO) sold 1,200 shares at $51.69 per share price, according to the Form-4 filing with the securities and exchange commission.

Suntrust Banks Inc. is a bank holding company and a financial holding company. Through its principal subsidiary SunTrust Bank the Company offers a line of financial services for consumers and businesses including deposit credit mortgage banking and trust and investment services. The Company’s other subsidiaries provide asset and wealth management securities brokerage and capital market services. SunTrust operates the following business segments: Consumer Banking and Private Wealth Management Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment which includes the management of the Company’s investment securities portfolio long-term debt end-user derivative instruments short-term liquidity and funding activities balance sheet risk management and most real estate assets. SunTrust operates primarily within Florida Georgia Maryland North Carolina South Carolina Tennessee Virginia and the District of Columbia.

SunTrust Banks

Leave a Reply

SunTrust Banks - Is it time to Sell?

Top Brokerage Firms are advising their investors on SunTrust Banks. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.